Korea Investment CORP Sells 80,641 Shares of The Boeing Company $BA

Korea Investment CORP decreased its stake in shares of The Boeing Company (NYSE:BA) by 17.4% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 383,493 shares of the aircraft producer’s stock after selling 80,641 shares during the period. Korea Investment CORP owned 0.05% of Boeing worth $80,353,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbor Asset Planning Inc. bought a new stake in Boeing during the 2nd quarter valued at approximately $25,000. Piscataqua Savings Bank lifted its stake in shares of Boeing by 1,712.5% in the second quarter. Piscataqua Savings Bank now owns 145 shares of the aircraft producer’s stock valued at $30,000 after buying an additional 137 shares during the period. Monetary Management Group Inc. grew its position in Boeing by 33.3% during the first quarter. Monetary Management Group Inc. now owns 200 shares of the aircraft producer’s stock worth $34,000 after buying an additional 50 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in Boeing during the second quarter valued at about $35,000. Finally, IMG Wealth Management Inc. grew its holdings in shares of Boeing by 159.4% during the 2nd quarter. IMG Wealth Management Inc. now owns 179 shares of the aircraft producer’s stock worth $38,000 after purchasing an additional 110 shares in the last quarter. Institutional investors and hedge funds own 64.82% of the company’s stock.

Boeing Trading Up 2.4%

NYSE BA opened at $186.90 on Friday. The firm has a market cap of $142.06 billion, a price-to-earnings ratio of -13.66 and a beta of 1.44. The Boeing Company has a 1-year low of $128.88 and a 1-year high of $242.69. The company has a 50 day moving average of $206.38 and a 200-day moving average of $214.34.

Boeing (NYSE:BA) last released its quarterly earnings results on Wednesday, October 29th. The aircraft producer reported ($7.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($6.96). The company had revenue of $23.27 billion during the quarter, compared to analysts’ expectations of $21.61 billion. Boeing’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period last year, the company earned ($10.44) earnings per share. On average, analysts forecast that The Boeing Company will post -2.58 earnings per share for the current year.

Insider Activity

In other Boeing news, EVP Uma M. Amuluru sold 1,366 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $197.66, for a total value of $270,003.56. Following the completion of the transaction, the executive vice president directly owned 14,656 shares of the company’s stock, valued at approximately $2,896,904.96. The trade was a 8.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Dana S. Deasy purchased 554 shares of the firm’s stock in a transaction dated Monday, November 24th. The shares were bought at an average cost of $178.88 per share, for a total transaction of $99,099.52. Following the completion of the purchase, the senior vice president directly owned 28,442 shares of the company’s stock, valued at $5,087,704.96. The trade was a 1.99% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.09% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

BA has been the subject of a number of recent research reports. Loop Capital set a $223.00 target price on Boeing in a research note on Monday, November 3rd. Royal Bank Of Canada reissued an “outperform” rating and issued a $250.00 target price on shares of Boeing in a research note on Monday, September 29th. Sanford C. Bernstein restated an “outperform” rating and set a $267.00 price target on shares of Boeing in a research note on Friday, November 14th. BNP Paribas set a $150.00 price objective on Boeing in a research note on Tuesday, November 18th. Finally, Vertical Research raised Boeing from a “hold” rating to a “buy” rating and increased their target price for the stock from $242.00 to $270.00 in a report on Monday, September 8th. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, three have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $232.09.

Boeing Company Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.